Bhadra Interest Rate Update: Commercial Banks Revise Fixed Deposit Rates; Majority Keep Rates Unchanged

Commercial banks have announced their revised fixed deposit (FD) interest rates for the month of Bhadra. Out of the 20 commercial banks, 11 left their rates unchanged from Shrawan, while nine made adjustments. Among them, eight banks lowered their rates, whereas one opted for an increase.

Standard Chartered Bank Limited (SCB) implemented the sharpest reduction in institutional FD rates, trimming them by 1.13 percentage points—from 6.26% in Shrawan to 5.13% in Bhadra. Similarly, Siddhartha Bank Limited (SBL) cut its institutional FD rate by 0.75 percentage points, bringing it down to 4% from 4.75% in the previous month.

On the other hand, Prabhu Bank Limited (PRVU) stood out as the only bank to increase rates, raising its institutional FD rate by 1.10 percentage points—from 4.25% in Shrawan to 5.35% in Bhadra.

In terms of prevailing rates, Laxmi Sunrise Bank Limited (LSL) offers the lowest individual FD rate at 5%, while Standard Chartered Bank Limited (SCB) provides the lowest institutional FD rate at 2.75%. At the higher end, NIC Asia Bank Limited (NICA) leads with the highest rates, offering 6.25% for individual FDs and 5.25% for institutional FDs.